Yesterday, ANNJOO gained 14.0 sen (+7.07%) to close at RM2.12.
Technically, ANNJOO seems to have displayed signs of bottoming out in July. Notably, yesterday’s candlestick closed above the 50-day SMA for the first time since its decline in March 2018, which could indicate a continuation of its July's rally. This, accompanied by exceptional trading volume, indicates strong buying interest. Key momentum indicators continue to show positive signals as well.
Expect ANNJOO to test its resistance at RM2.20 (R1) and RM2.39 (R2) should the first resistance be taken out.
Conversely, downside bias should find supports at RM2.00 (S1) and RM1.88 (S2).
LEESK (Not Rated)
Yesterday, LEESK gained 4.0 sen (+4.04%), to close at RM1.03 with a bullish “Marubozu” candlestick formed.
Trend has been positive with subsequent formation of higher highs and higher lows after the share bottomed-out in early-Dec last year.
Technical indicators seem supportive and suggest for an attempt to test the next higher high with the MACD inflecting upwards to crossover Signal-line while key SMAs remain in “Golden Cross” state.
From here, follow-through buying may bring the share to meet resistance at RM1.20 (R1) with a decisive take down will see the index on a higher note at RM1.30 (R2)
However, failure to do so, the share may retreat back to immediate support level RM0.850 (S1) and RM0.745 (S2) further down.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 7221 views | 6 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....